SEC Of Thailand Allows Trading Cryptos
The Securities and Exchange Commission (SEC) of Thailand granted permission to the country's banks to purchase and sale cryptocurrencies, Blognone informs.
Screenshot from the Thai web resource Blogone
The representatives of the Thai central bank were the first to share this news with the financial institutions of the country. Operations with cryptocurrency will be carried out with restrictions, namely banks can buy and sell it, but it is still forbidden to make any purchases with cryptoassets.
The experts of the Thai financial sector can conduct training seminars, courses related to blockchain technology, and consult on the effective investments in cryptocurrency.
The Thai authorities have long paid attention to the crypto sphere and have been trying to regulate this market. In May, a bill was approved providing for control over the use of digital assets.
The SEC introduced new rules for the initial coin offering (ICO). The representatives of any company entering the ICO market have to pass a multi-level inspection and obtain a license. The Commission will collect information about companies from various sources. The SEC officials named the most open and reliable cryptocurrencies that can be used in trading and ICO, including bitcoin, ether, Ethereum Classic, Litecoin, Ripple, and Stellar.
The countries of South-East Asia are considered to be among the most loyal to cryptocurrencies. As early as 2014, Singapore became one of the first countries in the world to determine bitcoin as a service at the legislative level.